Apple says in iPhone pact with China Mobile; no terms disclosed

NEW YORK – Apple Inc on Sunday announced a multiyear deal with China Mobile to bring its iPhone product lines to China, starting January 17, 2014.

The terms of the deal were not announced, but Apple said details of pricing and availability for its iPhone 5S and 5C lines would be available at a later date.

"China is an extremely important market for Apple and our partnership with China Mobile presents us the opportunity to bring iPhone to the customers of the world's largest network," Tim Cook, Apple's chief executive, said in a statement.

China Mobile has about 760 million customers, the company said in a statement.

Shares of Apple on Friday closed at $549.02 while U.S. shares of China Mobile ended at $51.63.